Revealed: financial services, IT and manufacturing the best jobs to die in

PSHPC director John Dean commented: "Some five per cent of our clients provide life assurance benefits of eight times salary and the majority of these operate in the financial services sector."

The figures showed a diverse range of life assurance payment policies between industries, while unionised employment was more likely to provide a larger payout than sectors without a history of representation. One financial firm analysed in the report offered a benefit of 14 times the employee's salary should he or she die, however, an average manager in the financial services sector was likely to receive half that number. At the lower end of the scale, a £14,000 per annum retail employee's could expect just £42,000 to be left to dependents.

The research noted that UK employers in general offered higher payouts upon death than other countries. Pensions legislation passed in 2006 which enabled tax-free payout of four times a worker's salary saw the average payout increase to that number as a result.

With overall payout claims for SMEs relatively low, Dean warned there was a risk that policies may not be managed properly.

"Businesses are just hoping it will all be OK. That's fine in large companies with robust processes, but so often the risk to business is very high. Companies need to ensure their data and processes are up to date to avoid any delat in paying beneficiaries when they are at their most vulnerable."

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